Sarah Beeny gives advice on selling your home fast
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The price of homes boomed in 2021, with new figures showing more than half of all UK homes will have risen in value by a whopping £15,000 over the course of the year. The housing market has gone from strength to strength since the end of the first lockdown in March 2020, with a surge in sales pushing average prices to all time high. One property expert has now predicted housing trends making an impact in 2022.
James Morris-Manuel, MD EMA at Matterport shared his predictions on property trends set to dominate 2022.
James explained how brokerages will rebranding themselves as real estate tech companies.
He said: “The rebranding process will occur in order to attract more listings agents and consumers.
“As part of the evolution through 2022, the brokerages would want to white label software to be folded into their suite of services to make their brokerage a one-stop shop for customers.
“The incentive for brokers is that it will support them as trusted advisors by touting their capabilities, and increase their margins by organising ancillary services as part of their work.”
Another trend James expects to see this year is that house ownership will start including digital twins as part of the holding.
Digital twin technology is a virtual representation of physical objects.
It can help homeowners and buyers understand the building and help with their decision making.
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James said: “The home is the most expensive and important asset that many people will ever own, and many would want to get as much value as possible out of the property.”
Homeowners may want plan out areas for home improvements to be made.
James continued: “As house prices continue to increase in 2022, homeowners will want a digital copy of their home so they will be able to analyse potential domestic improvements or carve out areas of improvement.
“One example might be painting the walls of the digital replica a different colour, to test it out before using it on the real home.
“Another might be a plumber using digital twins to understand the best way to remodel the bathroom.”
Another trend James predicted is the Government will be lobbied by businesses for digital twins to be a requirement for property.
He said: “At the moment property is very analogue, making decisions and organising property a challenge.
“To draw out more value in the property, businesses will lobby the government to include digital twin technology.”
A digital twin acts as a real-time database of the building ecosystem.
James added: “The reason is that digitising homes will make it much easier to manage properties, because all of the information will be found in one place in an accurate and detailed way.
“One example is that land registry searches will be easier and another is there will be fewer potential issues, such as lawyers appraising the wrong sites.”
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